The Business Of Mining: Profits, Losses, Hobbies and Businesses
November 2008 by Mark E. BattersbyEveryone can deduct all of the ordinary and necessary expenses of conducting a trade or business. But how can anyone hope to refute the IRS’s labeling of their activity as a hobby or, probably more importantly, hope to achieve the label of a tax business?
Highway 49—the “Golden Highway”—heads northeast out of Placer County into a stretch of Nevada County that is almost as busy as it was during the Gold Rush. The neighboring towns of Grass Valley and Nevada City are still booming—a beautiful location to live in the Sierra foothills.
Gold rushes are the stuff of legends. Who can read Jack London’s stories of the Klondike or hear the fabulous tales of the California Gold Rush of 1849 without their heart beating just a bit faster? But there was also a third gold rush, just as dynamic...
As soon as I learned that there was gold in Tennessee I just had to go find some.
Gold in clastic black shale
- Those “dog-gone” fraud charges
- Fake news
There are several news items of interest here at ICMJ’s Prospecting and Mining Journal.
Within a few minutes I got my first signal and dug out a small flake about three grains.
The Bawl Mill • Where To Find Diamonds • Miners Find Encouraging Prospects Near Livengood • Glen's Big Find • Suction Dredge Study • Lluvia de Oro— A Shower of Gold Awaiting Development in the Sierra Madre—Part I • Beyond The End of The Road • Barnes Store and Yankee Jims • Mining Tax Increase Suggested • Opening Ceremony for Buckhorn Mine • Mining Journal Contest—How Much Is That Old Mining Journal Worth? • Melman on Gold & Silver • Mining Stock Quotes and Mineral & Metal Prices